DE VERWISSELING: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DE VERWISSELING
Largest movements
- Stocks and contracts +€150,000
up €150,000 (+294%), from €50,945 to €200,945
- Receivables within one year +€86,062
up €86,062 (+192%), from €44,858 to €130,920
of which Trade receivables: +€77,673
- Tangible fixed assets -€72,248
down €72,248 (-5.5%), from €1.3m to €1.2m
- Financial fixed assets -€24,000
down €24,000 (-46.1%), from €52,027 to €28,027
- Trade debts +€162,837
up €162,837 (+194%), from €83,728 to €246,565
- Debts after one year -€87,351
down €87,351 (-11.1%), from €786,903 to €699,552
- Profit (loss) carried forward +€65,910
up €65,910 (+47.8%), from €137,927 to €203,837
- Accrued charges and deferred income -€27,900
no longer reported in 2025 (was €27,900)
- Gross operating margin +€44,904
up €44,904 (+32.6%), from €137,552 to €182,456
- Depreciation -€10,580
down €10,580 (-12.8%), from €82,828 to €72,248
- Financial charges +€6,786
up €6,786 (+54.1%), from €12,542 to €19,328
- Other operating charges +€4,924
up €4,924 (+21.7%), from €22,667 to €27,591
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,495,767 | €1,615,548 | +€119,781 | +8.0% |
| Fixed assets | 21/28 | €1,369,905 | €1,273,657 | -€96,248 | -7.0% |
| Tangible fixed assets | 22/27 | €1,317,878 | €1,245,630 | -€72,248 | -5.5% |
| Land and buildings | 22 | €1,317,878 | €1,245,630 | -€72,248 | -5.5% |
| Financial fixed assets | 28 | €52,027 | €28,027 | -€24,000 | -46.1% |
| Current assets | 29/58 | €125,862 | €341,891 | +€216,029 | +172% |
| Stocks and contracts in progress | 3 | €50,945 | €200,945 | +€150,000 | +294% |
| Stocks | 30/36 | €50,945 | €200,945 | +€150,000 | +294% |
| Amounts receivable within one year | 40/41 | €44,858 | €130,920 | +€86,062 | +192% |
| Trade receivables | 40 | €21,765 | €99,438 | +€77,673 | +357% |
| Other amounts receivable | 41 | €23,093 | €31,482 | +€8,389 | +36.3% |
| Cash at bank and in hand | 54/58 | €12,529 | €7,654 | -€4,875 | -38.9% |
| Deferred charges and accrued income | 490/1 | €17,530 | €2,372 | -€15,158 | -86.5% |
| Total equity and liabilities | 10/49 | €1,495,767 | €1,615,548 | +€119,781 | +8.0% |
| Equity | 10/15 | €356,536 | €420,194 | +€63,658 | +17.9% |
| Contributions | 10/11 | €82,281 | €82,281 | = | 0.0% |
| Capital | 10 | €82,281 | - | -€82,281 | |
| Issued capital | 100 | €82,281 | - | -€82,281 | |
| Reserves | 13 | €136,328 | €134,076 | -€2,252 | -1.7% |
| Non-distributable reserves | 130/1 | €7,436 | €7,436 | = | 0.0% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €5,436 | €7,436 | +€2,000 | +36.8% |
| Tax-exempt reserves | 132 | €27,023 | €24,771 | -€2,252 | -8.3% |
| Distributable reserves | 133 | €101,869 | €101,869 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,927 | €203,837 | +€65,910 | +47.8% |
| Provisions and deferred taxes | 16 | €9,008 | €8,257 | -€751 | -8.3% |
| Deferred taxes | 168 | €9,008 | €8,257 | -€751 | -8.3% |
| Amounts payable | 17/49 | €1,130,223 | €1,187,097 | +€56,874 | +5.0% |
| Amounts payable after more than one year | 17 | €786,903 | €699,552 | -€87,351 | -11.1% |
| Financial debts | 170/4 | €786,903 | €699,552 | -€87,351 | -11.1% |
| Amounts payable within one year | 42/48 | €315,420 | €487,545 | +€172,125 | +54.6% |
| Current portion of amounts payable after more than one year | 42 | €85,723 | €87,351 | +€1,628 | +1.9% |
| Trade debts | 44 | €83,728 | €246,565 | +€162,837 | +194% |
| Suppliers | 440/4 | €83,728 | €246,565 | +€162,837 | +194% |
| Taxes, remuneration and social security | 45 | €10,180 | €17,139 | +€6,959 | +68.4% |
| Taxes | 450/3 | €10,180 | €17,139 | +€6,959 | +68.4% |
| Other amounts payable | 47/48 | €135,789 | €136,490 | +€701 | +0.5% |
| Accrued charges and deferred income | 492/3 | €27,900 | - | -€27,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,828 | €72,248 | -€10,580 | -12.8% |
| Other operating charges | 640/8 | €22,667 | €27,591 | +€4,924 | +21.7% |
| Gross operating margin | 9900 | €137,552 | €182,456 | +€44,904 | +32.6% |
| Operating profit (loss) | 9901 | €32,057 | €82,617 | +€50,560 | +158% |
| Financial charges | 65/66B | €12,542 | €19,328 | +€6,786 | +54.1% |
| Recurring financial charges | 65 | €12,542 | €19,328 | +€6,786 | +54.1% |
| Profit (loss) for the period before taxes | 9903 | €19,515 | €63,289 | +€43,774 | +224% |
| Transfer from deferred taxes | 780 | €751 | €751 | = | 0.0% |
| Income taxes | 67/77 | €150 | €382 | +€232 | +155% |
| Profit (loss) for the period | 9904 | €20,116 | €63,658 | +€43,542 | +216% |
| Transfer from tax-exempt reserves | 789 | €2,252 | €2,252 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,368 | €65,910 | +€43,542 | +195% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.